Gold Prices Fall as Investors Await US Interest Rate Decision
Gold and silver prices declined, along with other commodities.
Translated by Qiyas from السياسة — Original source
Gold prices fell at the start of Asian trading on Thursday, as investors awaited next week’s Federal Reserve (US central bank) meeting in search of clues about the future path of interest rates.
Spot gold dropped 0.6 percent to $4,115.50 per ounce, after hitting its lowest level since October 15 at $4,104.33 on Wednesday. US December gold futures declined 0.4 percent to $4,132.30.
Markets are anticipating the Federal Reserve’s meeting on October 27–28 and upcoming personal consumption expenditures data, amid widespread expectations that interest rates will remain unchanged this month.
Among other precious metals, silver fell 1.1 percent to $57.33 per ounce, platinum dropped 1.1 percent to $1,609.95, and palladium declined 0.8 percent to $1,078.52.
